Question: Why is the critical path important to a project manager? When would you use PERT or CPM to estimate your project's length? Why? Which would

Why is the critical path important to a project manager?
When would you use PERT or CPM to estimate your project's length? Why?
Which would you use if you were doing a Monte Carlo simulation?
The industry standard is to use CPM. Why do you think that is?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

1. (5 points) True/False questions. (a) As a first mover, your operations cost is lower than that of your competitors. True o False o (b) Cycle time of a process is defined as time to complete one...

Q:

Problem 1 Consider the following tasks for a project. Task Time (days) Immediate predecessors A 3 N/A B 2 A C 6 A D 2 C E 3 A F 3 B G 5 C H 1 C I 1.5 F,H J 2 I (a) Draw the project network and...

Q:

Project Management Objective There are three phases in the management of complex IT projects: planning, scheduling and controlling. This exercise focuses on the first two phases. In particular, we...

Q:

please assist with the above 1.4.4. Pre-Tender Programme 1.4.4.1. Identify the critical path items for this project 1.4.4.2. Provide a bar chart based on precedence diagram 1.4.4.3. Why are these...

Q:

Overview The Critical Path Method uses the network diagrams familiar to users of PERT, and through the defined task relationships and estimated task duration, calculates the least possible time in...

Q:

Overview The Critical Path Method uses the network diagrams familiar to users of PERT, and through the defined task relationships and estimated task duration, calculates the least possible time in...

Q:

For questions (7) and (8), please use the following network diagram: 3 weeks 1 week B 7 weeks Start A D Finish E 2 weeks 5 weeks 7) How long will whole project take? A) 13 weeks B) 14 weeks 18 weeks...

Q:

Slack time in a network is the(Points : 1) amount of time that an activity would take assuming very unfavorable conditions. shortest amount of time that could be required to complete the activity....

Q:

Answer the following questions 1) In networks, there is still minimal probability that crashing an activity outside the critical path will shorten the project duration TRUE OR FALSE 2) Reducing...

Q:

SO 300 Final Project Milestone One Guidelines and Rubric Prompt: For the first milestone of your final project, you will submit a managing operations case study analysis that uses the tools and...

Q:

Figure 10.15 contains ACF plots of 40 years of quarterly data, with all possible combinations of first-order seasonal and nonseasonal differencing. Which combination do you recommend in order to...

Q:

With variable costing, only direct materials and direct labor are inventoried. Do you agree? Why?

Q:

Which Act did Congress pass to prevent exploitation of small investors and provide for SEC regulation of investment companies? Multiple Choice The Securities Act of 1 9 3 3 Uniform Securities Act The...

Q:

Free cash flow valuation You are evaluating the potential purchase of a small business with no debt or preferred stock that is currently generating $ 4 2 , 7 0 0 of free cash flow ( F C F 0 = $ 4 2 ,...